Shiba Inu (SHIB) has made a significant stride by erasing another zero from its trading value. The meme-inspired cryptocurrency has witnessed a notable surge in its price, now standing at $0.00001003. This represents a 5.7% increase over the last 24 hours.
What “erasing a zero” means for SHIB
The concept of “erasing a zero” in the Shiba Inu community, particularly during the massive 2021 bull run, became a symbolic and celebratory milestone.
This phrase refers to the price of SHIB dropping a decimal place while climbing in value, essentially moving the decimal point one place to the right.
During the 2021 surge, SHIB was frequently “erasing zeros,” a phenomenon that galvanized its community. Each occurrence was not just a numerical change but a representation of the cryptocurrency’s growth in market value and investor interest.
For the SHIB community, erasing a zero symbolizes breaking barriers, achieving new heights in market capitalization, and gaining wider recognition in the crypto space.
This term, therefore, transcends its literal meaning. It is a rallying cry for the community’s optimism.
Crypto market in the green
The cryptocurrency market is experiencing a widespread upturn, with most digital assets flashing green. This positive trend is largely attributed to the recent approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), a move that has been anticipated by investors for years. This approval has injected a fresh wave of optimism into the market, buoying the prices of various cryptocurrencies, including Shiba Inu.
Kusama’s big plans
Shytoshi Kusama, a key figure in the Shiba Inu community, has outlined ambitious plans for the token’s future. In a series of tweets, Kusama emphasized the development of a “network state” and the integration of SHIB into the broader internet infrastructure.
This plan includes the introduction of SHIB name tokens. This move is seen as a significant step towards bridging the gap between the traditional internet and the burgeoning world of Web 3.0.